Buckle Up, Visa: Stablecoins Process $800 Billion In Transactions Per Month, Report Finds

Stablecoins are now facilitating nearly $800 billion in digital transactions each month, positioning themselves as credible challengers to traditional payment networks like Visa V, according to Grayscale's June 2025 market report.

The surge in usage is occurring alongside a wave of favorable regulatory developments and growing corporate interest in stablecoin infrastructure, prompting what some have dubbed "Stablecoin Summer."

What Happened: Grayscale's data reveals that stablecoins, blockchain-based digital dollars typically backed by cash or short-term U.S. Treasuries, have rapidly scaled into one of the most used components of crypto infrastructure.

"Estimates from Visa and crypto data specialists suggest stablecoins are used for about $800 billion in digital transactions per month," the report said.

For comparison, Visa processed approximately $1.1 trillion in monthly payment volume during 2024.

The report also highlighted Circle‘s CRCL public listing in June as a pivotal moment for the sector.

The issuer of the USDC USDC/USD stablecoin saw its stock rise from $31 to $181 per share by month-end, reflecting strong investor enthusiasm for stablecoin-based business models.

"At that price, Circle trades at more than 150 times its 2024 EBITDA," Grayscale noted.

Also Read: XRP Eyes $2.40 As Ripple’s RLUSD Stablecoin Smashes $500M Market Cap

Why It Matters: The regulatory landscape is also shifting.

The U.S. Senate recently passed the GENIUS Act, which establishes a clear legal framework for payment stablecoins, setting rules for reserve assets, compliance procedures, and audit standards.

The bill now awaits a vote in the House.

Grayscale believes the legislation will help drive further adoption in the U.S., although it criticizes the Act's ban on interest-bearing stablecoins, calling them a potential benefit to consumers.

Meanwhile, household names outside of the crypto space, including Amazon AMZN, Walmart WMT, and JPMorgan JPM, are reportedly exploring stablecoin use cases, from internal payment systems to customer-facing integrations. "This is a diverse mix of leading firms, all of which see the potential benefits of stablecoins," Grayscale said.

What’s Next: While Bitcoin BTC/USD remains the most recognized asset in crypto markets, the report argues that stablecoins and decentralized finance applications are quietly laying the groundwork for broader financial infrastructure shifts.

With stablecoins increasingly used across both emerging markets and institutional channels, the asset class may soon rival or even surpass legacy payment providers in utility and volume.

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